News Details
F1 granted amendment to $2.9bn loan to help weather crisis
Formula 1 has received an amendment to its term loan and credit facility to help the sport weather its current crisis until the end of 2021. The prospect of a massive drop in revenue due to the COVID-19 pandemic compelled F1 commercial rights holder Liberty Media to shore up F1's finances back in April, with the holding company reattributing $1.5 billion in net asset value to The Formula One Group. To offer the latter more financial breathing space as the pandemic crisis unfolds, Liberty Media has secured an amendment to the covenant governing F1's $2,9 billion term loan and its yet undrawn $500 million revolving credit facility. McLaren gets £150m lifeline from National Bank of Bahrain...
Full Story »
Full Story »
You May Also Be Interested In...
F1 secures $2.9b loan amendment to help with financial...
Formula 1 has been granted an amendment of the conditions on a $2.9b loan...
5y ago from GrandPrix247.com
Report: McLaren to receive loan from National Bank of...
McLaren are on the verge of securing a loan from Bahrain's national bank...
5y ago from GrandPrix247.com
Confirmed: McLaren to receive £150 m loan from...
UPDATE: McLaren have now confirmed that they will receive £150 million...
5y ago from GrandPrix247.com
McLaren in heavy weather: Lawsuit to get money started...
The McLaren Group is in heavy weather. The new Supercars were already...
5y ago from GPBlog.com
Elsewhere On The Network
Popular On MGPToday.com
Marc Marquez reveals ‘worry’ over Fermin Aldeguer...
Marc Marquez admits rookie Fermin Aldeguer was his biggest concern en...
5h ago from MotorsportWeek.c...
Winners and losers from MotoGP's Austrian Grand Prix
No description available...
9h ago from Motorsport.com
Diogo Moreira targets factory MotoGP spot in potential...
No description available...
7h ago from Motorsport.com
Pecco Bagnaia demands answers from Ducati: “I’m...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Marcus Armstrong will return to Meyer Shank Racing for...
No description available...
2h ago from Motorsport.com
MSR extends Marcus Armstrong contract for 2026 IndyCar...
Meyer Shank Racing announced on Monday that it will keep Marcus Armstrong...
4h ago from MotorsportWeek.c...
Strongest season yet for Pato O’Ward has been...
Pato O’Ward is having the best IndyCar season of his career, and is...
2d ago from MotorsportWeek.c...
McLaren to auction future F1, IndyCar and WEC cars in...
McLaren is to auction future F1, IndyCar and World Endurance Championship...
4d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Esteban Ocon's wild childhood dream: 'I wanted to buy...
No description available...
3d ago from Motorsport.com
How drones will change the way you watch motorsport
No description available...
5d ago from Motorsport.com
How WRC's crucial 2027 rules are falling into place
No description available...
6d ago from Motorsport.com
Future second Asian/Pacific event behind WRC calendar...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Barcelona hero Andres Iniesta once snubbed Lionel...
Barcelona legend Andres Iniesta once snubbed Lionel Messi while naming his...
4h ago from SportsKeeda.com
Arsenal latest: Gunners open to offers for five players
No description available...
4h ago from SkySports.com
Arsecast Extra Episode 654 – 18.08.2025
Welcome to another Arsecast Extra, the Arsenal podcast, with myself and...
7h ago from Arseblog.com
“We never spoke” - Arsenal star Riccardo Calafiori...
Arsenal defender Riccardo Calafiori has outlined why he didn't text...
6h ago from SportsKeeda.com
Comments
Hottest News
Sebastian Vettel F1 return presents glaring issue for Red...
A former F1 star believes Red Bull would be... Read More »
53m ago from GPFans.com
Racing star confirms imminent F1 return
A racing star has confirmed that they will return... Read More »
3h ago from GPFans.com
Cadillac F1 hopeful suffers blow as target time missed
Cadillac F1 seat hopeful Valtteri Bottas suffered... Read More »
9h ago from GPFans.com
